Gold crossed the $1,400/oz mark in June for the first time since August 2013. While that’s great news for those working in that sector, rising gold prices usually signal economic turbulence on the horizon, which could mean it’s time for the other sectors (base metals and bulk commodities) to tighten their belts. Often the task of optimizing operations is assigned to the engineering staff at the mine. Using technology, they are constantly tinkering with ways to adjust operations. Rather than the trial-and-error techniques of the past, today they can use models to test future scenarios against changing demand and cost situations. With great speed, they can predict possible outcomes with a high level of accuracy.
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